Nvidia once again raised its forecast, with executives predicting third-quarter revenue would climb to $16 billion, or an increase of 170% on an annual basis.
"The entire tech sector and overall market was waiting for Nvidia with this being the purest and best barometer for AI demand and the results/guidance were a 'drop the mic' moment in our opinion that will have a ripple impact for the tech space for the rest of the year," said Dan Ives, senior equity research analyst at Wedbush Securities.
Elsewhere, the broader field of semiconductor stocks were also trading higher in after hours trading. Shares of
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Nvidia stock: Wall Street gears up for chipmaker's earnings reportFollow all the action as MarketWatch tracks Nvidia and its key earnings release.
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Nvidia stock: Wall Street gears up for chipmaker's earnings reportFollow all the action as MarketWatch tracks Nvidia and its key earnings release.
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Nvidia stock: Wall Street gears up for chipmaker's earnings reportFollow all the action as MarketWatch tracks Nvidia and its key earnings release.
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Nvidia earnings: What Wall Street expects from the AI-chip giantNvidia reports its fiscal second-quarter earnings after the close of markets on Wednesday.
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How Nvidia earnings could send ripples through Wall StreetNvidia is slated to post fiscal second-quarter earnings after the bell Wednesday. Analysts have lofty expectations for the chipmaker.
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